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NSW GOVERNMENT SUPPORT

In 2011 CEPAR was awarded $500,000 in NSW Government Science Leverage Funding to undertake two projects:

  • Public-Private Strategies to Support Asset-Liability Management for Retirement Insurance Products
  • Investigating pathways of home and community care service use and changes over time

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Public-private Strategies to Support Asset-liability Management for Retirement Insurance Products

This research provides the basis for valuable economic and policy contributions in the design of reverse mortgages and long term care insurance. These products are being increasingly recognised as important in financing retirement needs as noted by the Financial System Inquiry. There is an increasing understanding of the importance of longevity risk and the need for better financial and insurance products designed to meet individual needs while at the same time better understood by insurers and banks. Billions of dollars of individual savings are involved in supporting the retirement needs of individuals in the NSW economy and increasingly the individual will be expected to finance care and retirement costs using products such as reverse mortgages and long term care insurance. This research provides the basis for the development of these markets based on scientific study of the cost and risks involved.

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Investigating Pathways of Health and Community Care Service Use

This research developed methods and capacity to use routinely collected health services data to examine ways in which the use and impacts of health and aged care services change as people grow older and provides information that can inform health care service delivery, planning and policy. The emphasis was on linkage of health services data to population survey data; and on methods to convert these data into information for understanding patterns, pathways and costs of health and aged care services as people age.